Are you still using Time Clock with Time Cards?
Are you still using an old-fashioned Time Clock with paper Time Cards? How much time and effort do you spend each payroll period?
First, you have to buy Time Cards which cost approximately 5 cents per card. At the beginning of each accounting period, you have to write the name of each employee on the card that he/she will be using. At the end of the accounting period, you have to manually calculate total hours worked and manually input those numbers into your payroll system. Have you wondered about how much time it takes to process each card? What about the possibility of making an error during the calculation process?
According to The American Payroll Association (APA) study, the overpayment due to human error can range from 1% to 8%. (For further details read our blog: Time and Attendance Software ROI – Human Error). Furthermore, it takes approximately 4 minutes per employee to calculate each time card and 2 minutes per employee to enter the data into a payroll software. (For further details read our blog: Time and Attendance Software ROI – Cost Calculation).
There is a much more efficient solution. For as little as $260, you can get a standalone Time Clock. If you get a Fingerprint Reader, you will not require any cards and hence eliminate that expense. If you want to continue using a card reader, then you will need to get a proximity, barcode or magnetic stripe card for each employee, but this card can be used indefinitely and even reused when staff changes.
Finally, you will need to combine this time clock with a Time and Attendance software. We offer a free online Time and Attendance software for companies with 25 employees or less or you can get a more advanced version for as little as $1 per employee per month. When using our Midex Time Control, you can track your employees’ attendance from anywhere with internet access and at the end of the accounting period, you can export data to your payroll software.